US home improvement retailer Lowe’s recorded a 33% rise in profits during the third quarter.
Good weather, increased plywood and lumber prices, plus continued DIY spending helped lift profits to US$452m from US$339m a year ago. Opening major new stores also helped grow earnings.
Lowe’s, which is battling Home Depot for market share, saw its sales rise from US$6.4bn to US$7.9bn, an increase of 23.5%.